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A service for banking industry professionals · Saturday, February 16, 2019 · 476,611,965 Articles · 3+ Million Readers

Software firm, Ideagen, takes aim at global business risk

Head of Product

The Governance,Risk and Compliance (GRC) software leader will rename its Pentana Performance application to Pentana Risk in new product and sector focus

Ideagen (LSE:IDEA) refocusing Pentana Performance to Pentana Risk, it consolidates our commitment to providing software that not only enhances technological resilience, but also improves employee awareness of risk”
— Gordon McKeown, Head of Product

NOTTINGHAM, UNITED KINGDOM, February 11, 2019 / -- Ideagen, the leading GRC software firm, has announced it is to increase its focus on enterprise-level risk management as it bids to help organisations successfully manage business risk.
The UK-based firm is launching Pentana Risk in order to help global businesses effectively understand and handle rapidly changing risk landscapes.
Pentana Risk is a re-focus of the company’s current Pentana Performance software application, which is currently used by clients such as Admiral, Esendex and City of Orlando.
Now with a new product and sector focus, Pentana Risk will allow Ideagen to help businesses across the globe manage operational, financial, IT and strategic risks affecting their organisation.
Gordon McKeown, Head of Product at Ideagen, believes today’s organisations require to focus in order to stay resilient against threats and take advantage of opportunities.
He added: “Digital transformation is driving the future of risk management. Business risk landscapes are changing rapidly, bringing with them a diverse range of emerging critical risks highlighted by some high-profile cases globally.
“Due to the interrelatedness of risks, this responsibility touches on every part of an organisation, and it is crucial that senior management have full visibility of the entire risk management process if they want to develop effective strategies that will enhance performance. As such, the need for integrated, cloud-based risk management solutions is at an all-time high.”
He added: “Ideagen recognise that these concerns are at the forefront for organisations, and as such we are increasing our focus on providing best-in-class enterprise risk management solutions.
“We believe that by refocusing Pentana Performance to Pentana Risk, it consolidates our commitment to providing software that not only enhances technological resilience, but also improves employee awareness of risk and overall risk management processes.”
The future development of Pentana Risk will be guided by the ever-evolving market of risk management to ensure that the product remains at the forefront of leading technology solutions.
The software allows organisations to make well-informed decisions faster, through the aggregation, assessment and monitoring of crucial risk data. It also creates mitigation actions, with automatic email alerts of status changes, escalations and reminders of planned risk assessments. Enterprise wide risks are visualised in interactive dashboards and heat maps, giving management a live view of emerging risk and mitigation plans in action. Strategic risk assessment is easier with Pentana Risk as the connection between strategy and risks is made visible.
Ideagen is a GRC software leader with more than 4,700 clients globally using its software including Admiral, Esendex, Pall Corporation and Hampden Capital.
*Ideagen has been recognised as a CHALLENGER in Gartner's Magic Quadrant for Integrated Risk Managemen report.

Joe O'Brien
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